In Reply to: Any1 use the Owners Choice to get their BMW?NoMsg posted by Chris on June 08, 1999 at 21:04:19:
: : Chris
I'm planning to next month. Want leaselike payments, low equity in the car, and option to leave it in 3-4 years if I choose. Learned a long time ago to keep my equity in equities, and my options open. Owners choice does this for me. Advantage over a lease is that I won't have to pay Virginia sales tax twice if I decide to keep it. Your state may vary. Also, I believe that the fees are less than on a lease. Given the option to walk away, you should shoot for the highest "residual" value and lowest interest rate. I believe the rates are in the low 8% range, but haven't checked in the last month. Also think that the residual is about 65% of MSRP for a 36 month and 54% for 48 month. Anything you can get off the MSRP (or put as down payment) lowers your monthly payment but doesn't affect teh residual.
If you can afford the car at your age, you may already know all this. If you need more info, however, feel free to email me direct.